4 more people, 3 more managers, 21 more commitments and 36 more dated events

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Nys Teachers' Retirement System

State retirement systemteachers· New York

State retirement system, based in New York, reporting $154B in assets, for 455,499 participants.

Composed from this allocator's classification, location and filed figures.

Assets
$154B
Private allocation
28.0%
Fund commitments
22
As of · the latest dated event for this allocator; each figure carries its own filing or report date

Nothing material in the last 90 days. Last change: 7 Apr 2026, $50M approved across 1 fund on 7 Apr 2026: JFL Credit Opportunities Fund II $50M.

Capital path

who backs this record, through what, into what; each name opens its own path
Who decides
All 7
Nys Teachers' Retirement System
Funds committed to
All 4
Managers
All 6
Size, funding, policy and commitments, with their basesState retirement systemShow
State retirement system
Assets
$154B
Fiduciary net position, Jun 30, 2025 reported
Funded
not on record
not filed
Private markets target
28.0%
policy Jun 30, 2025
Commitments
22
20 dated closings
Allocation policy
ACFR, as of Jun 30, 2025
Asset class (as printed)BucketTargetRangeActualGapBasis
Cash EquivalentsCash1.0%0% to 4%1.4%+0.4reported nystrs.org
Domestic Fixed IncomeFixed income16.0%12% to 20%14.8%-1.2reported nystrs.org
Global BondsFixed income2.0%0% to 4%2.0%+0.0reported nystrs.org
High-Yield BondsFixed income1.0%0% to 3%0.9%-0.1reported nystrs.org
Private DebtPrivate credit2.0%1% to 5%1.9%-0.1reported nystrs.org
Real Estate DebtPrivate credit6.0%2% to 10%5.9%-0.1reported nystrs.org
Private EquityPrivate equity9.0%4% to 14%9.8%+0.8reported nystrs.org
Domestic EquityPublic equity33.0%29% to 37%32.8%-0.2reported nystrs.org
Global EquityPublic equity4.0%0% to 8%4.5%+0.5reported nystrs.org
International EquityPublic equity15.0%11% to 19%15.6%+0.6reported nystrs.org
Real Estate EquityReal estate11.0%6% to 16%10.4%-0.6reported nystrs.org
Policy periods on the tape: Jun 30, 2025 (ACFR), Jun 30, 2024 (ACFR). Target changes between periods are on the what changed list.
Consultants and advisers
1 firm
  • Callan LLC General consultantthrough Jan 28, 2026 Board minutes
People
7 roles
Chief investment officer
Thomas K. Lee
Executive Director & Chief Investment Officer (Jun 30, 2025) nystrs.org
Thomas K. Lee Executive Director & Chief Investment Officer
  • Binoop Unni Deputy Managing Director of Public EquitiesAsset-class head
  • David C. Gillan Managing Director of Real EstateAsset-class head

+4 more people on the investment staff and board

Every name, title and published role at this allocator, with the page it was read from.

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Manager roster
6 managers on the commitment tape
From the plan’s own commitment disclosures

+3 more managers received commitments

Every name, record and relationship behind this count, with the source on each.

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What changed
41 events
  • Apr 7, 2026Re-up
    Nys Teachers' Retirement System re-ups with J.F. Lehman and Company LLC: $50M to JFL Credit Opp Fund II (the minutes' own words)
    with Nys Teachers' Retirement Systemnystrs.org
  • Apr 7, 2026Commitment closed
    Nys Teachers' Retirement System commits $50M to JFL Credit Opp Fund II, closed 2026-04-07
  • Mar 31, 2026Commitment closed
    Nys Teachers' Retirement System commits $150M to Cabot Industrial Value Fund VIII, closed 2026-03-31
  • Mar 31, 2026Commitment closed
    Nys Teachers' Retirement System commits an undisclosed amount to Aermont Capital RE Fund VI, closed 2026-03-31
  • Mar 19, 2026Commitment closed
    Nys Teachers' Retirement System commits $200M to JFL Equity Inv VII, closed 2026-03-19

+36 more dated events

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Board record: approvals, recommendations, searches, terminations and re-up prospects for this system.
Commitments
24 rows, 16 dated closings
DateFundManagerBucketAmountVintageStatusSource
Apr 7, 2026JFL Credit Opp Fund IIJ.F. Lehman and Company LLCPrivate credit$50.0MCommitted (dated)re-upnystrs.org
Mar 31, 2026Cabot Industrial Value Fund VIIICabotReal estate$150MCommitted (dated)re-upnystrs.org
Mar 31, 2026Aermont Capital RE Fund VIAermont CapitalReal estaten/aCommitted (dated)re-upnystrs.org

+21 more commitments

Every fund and manager this allocator committed to, with the amount, date and source on each.

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Size and funding
58 readings
Total assets
$143B Jun 30, 2024 derived Census ASPP
$135B (2023-06) · $130B (2022-06)
Fiduciary net position
$154B Jun 30, 2025 reported ACFR
$146B (2024-06) · $137B (2023-06) · $132B (2022-06)
Long-term investments
$141B Jun 30, 2024 reported Census ASPP
$133B (2023-06) · $128B (2022-06)
Total pension liability
-$3.0B Jun 30, 2024 reported Census ASPP
$1.1B (2023-06) · $1.9B (2022-06)
Discount rate
6.95% Jun 30, 2024 reported Census ASPP
6.95% (2023-06) · 6.95% (2022-06)
Participants
455,499 Jun 30, 2024 derived Census ASPP
448,779 (2023-06) · 442,044 (2022-06)
Active members
273,058 Jun 30, 2024 derived Census ASPP
268,058 (2023-06) · 263,475 (2022-06)
Beneficiaries
175,045 Jun 30, 2024 reported Census ASPP
173,561 (2023-06) · 171,616 (2022-06)
Benefits paid
$8.4B Jun 30, 2024 reported Census ASPP
$8.1B (2023-06) · $7.9B (2022-06)
Investment expense
$490M Jun 30, 2024 reported Census ASPP
$409M (2023-06) · $400M (2022-06)
Commitment history
22 decisions the board record started
VehicleManagerAmountStateProposedApprovedClosedFirst reportedOther LPs
SL Green Opportunity Debt Fundn/a$125Mclosed-Jan 28, 2026Nov 18, 2025--
Abacus Multifamily Partners VIIn/a$200Mclosed-Jan 28, 2026Nov 5, 2025--
BlackRock Financial Management, Inc. separate accountBlackrock Financial Management, Inc$200Mapproved-Jan 28, 2026---

+19 more board decisions

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Provenance
Identifiers: Census PID6 227300
Cross-graph: no entry on another DFX graph
First observed Sep 15, 2026, last observed Sep 23, 2026. Classification confirmed. Every row above carries its source; a reported figure is the subject’s own, a derived one is arithmetic on reported figures, an estimated one is a model or a survey imputation and is never summed into a headline.

Not yet on record: funded ratio.

Capital chain

Nys Teachers' Retirement System sits on 13 traced paths of capital across the graphs.

Allocator commitments to a managerConsultant to allocator to managerAllocator to credit manager to facility to borrower

DFX traced 13 paths of capital through this record

Every record on each path, what it committed or lent, and as of when.

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Derived from allocator disclosures, BDC schedules and SEC filings; confidence is the weakest hop.

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Record history

35 dated events on the change ledger, latest first
  • Commitment made
    2025-11-05source
  • Commitment made
    2026-01-15source
  • Commitment made
    2026-02-04source

+32 more changes on this record's ledger

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The ledger records every merge, rename and reclassification this record went through and the dated filings observed on it, so the identity on this page can be traced to the records it was built from. The ledger's own sentences name other records, so they show with the names.

›Connections

every published relationship on the graph

+5 connections on the graph

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